Man Group plc Makes New Investment in Bunge Global SA (NYSE:BG)

Man Group plc acquired a new position in shares of Bunge Global SA (NYSE:BG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 650,217 shares of the basic materials company's stock, valued at approximately $50,561,000. Man Group plc owned about 0.47% of Bunge Global at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in Bunge Global by 9.5% during the fourth quarter. American Century Companies Inc. now owns 241,962 shares of the basic materials company's stock worth $18,815,000 after buying an additional 20,942 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Bunge Global by 7.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company's stock valued at $302,000 after purchasing an additional 278 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Bunge Global by 39.6% in the fourth quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company's stock valued at $1,665,000 after purchasing an additional 6,077 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Bunge Global by 12.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 37,744 shares of the basic materials company's stock valued at $2,935,000 after purchasing an additional 4,296 shares during the period. Finally, Orca Wealth Management LLC purchased a new position in shares of Bunge Global in the fourth quarter valued at approximately $1,238,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Up 1.9%

Bunge Global stock traded up $1.50 during trading on Friday, reaching $81.52. The stock had a trading volume of 1,226,344 shares, compared to its average volume of 1,610,624. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92. The business has a 50 day moving average price of $76.73 and a 200 day moving average price of $78.60. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.96 billion, a PE ratio of 10.09, a P/E/G ratio of 2.66 and a beta of 0.68.

Bunge Global (NYSE:BG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The company had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $13.18 billion. During the same quarter in the previous year, the firm earned $3.04 earnings per share. The firm's quarterly revenue was down 13.2% on a year-over-year basis. On average, analysts predict that Bunge Global SA will post 7.94 EPS for the current year.

Bunge Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. This is an increase from Bunge Global's previous quarterly dividend of $0.68. Bunge Global's payout ratio is currently 34.52%.

Wall Street Analyst Weigh In

BG has been the subject of several recent research reports. Bank of America lowered their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Barclays lowered their price objective on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stephens lowered their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Citigroup raised their price objective on shares of Bunge Global from $76.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $81.60.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.